Trump Presidency - End of the World, or the Start of a New One (Update II)? The Verdict is in.

Anonymous
Trump Presidency - End of the World, or the Start of a New One (Update II)? The Verdict is in.

So with new news, we get a second update. Now in my previous update, as well as Part I and Part II of this series, i went into both why Trump won, and the reason why his presidency would probably lead to disaster. However, i want to focus specifically on what i stated in my first update, concerning who Trump may put in as Treasury Secretary. In the update, i stated that it would be one of two people: Either it would be Jamie Dimon (who was less likely) or a Goldman Sachs/Wall Street operative called Steven Mnuchin (basically, the kind of person he railed against and accused Hillary Clinton of being in bed with).

So lets have a little fun with this. Take a wild guess at who Trump picked as the anti-establishment, anti-wall street choice for one of the most important positions in the United States government. Here's some music to help you ponder:


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So...if you can rub two brain cells together, you probably guessed Steven Mnuchin. Who is this guy anyways? Well you don't get any more establishment and wall street insider than Mnuchin. He's worked for Goldman Sachs for 17 years, and get this....he's even worked for George Soros. Yes indeed...the big bad boogie man of the left now has one of his own in the seat of almost supreme power and influence in the American economy.

From the Wall Street Journal:

Mr. Mnuchin’s Wall Street pedigree presents a stark contrast with the populist themes Mr. Trump struck in his campaign, railing against big banks and vowing to close tax loopholes that benefit hedge funds. Mr. Trump also repeatedly attacked his rivals in the primary and general elections for their Wall Street ties, especially those connected to Goldman Sachs.

In 2002, Mr. Mnuchin left Goldman and later was hired to run a credit fund set up by billionaire George Soros.

In 2004, Mr. Mnuchin and two former Goldman colleagues founded hedge fund Dune Capital Management LP with financial backing from Mr. Soros.

You know, the first thought that went through my head when hearing the news was....what would Trump supporters have said if Hillary had won, and appointed a guy like this as secretary of the treasury? A guy who not only is balls deep with wall street, but also an agent of Soros. Who amongst you are willing to tell me with a straight face that Trump supporters would not have said something along the lines of "Typically crooked Hillary...giving favours to her buddies on wall street to give the big banks on wall street even more power, and a foot in the door for leftist propagandists and manipulators like George Soros". If Hillary won and made this guy her right hand man at the treasury, the sky would fall....so I'm looking forward to potentially seeing that happen here, but I have a sneaking suspicion that I won't be.

For those of you that have forgotten what the Secretary of the Treasury does, here's a refresher

The Secretary of the Treasury is responsible for formulating and recommending domestic and international financial, economic, and tax policy, participating in the formulation of broad fiscal policies that have general significance for the economy, and managing the public debt.

Source

Essentially, what you have now is a wall street insider/Soros operative at the helm of the U.S. economy, able to set the rules of the game for all financial institutions and large corporations. Who do you think a guy who worked for the big banks on wall street for nearly two decades, and who has worked several times for and with George Soros is going to side with....you or his friends? You would have to be a total fool if you think he's going to write the rules in your favour.

For me, the verdict is in now. As i suspected, Trump was largely talking a good game on the campaign trail, but he really was equally, if not more corrupt than Hillary was, given the fact that he seems to be unwilling to even put his financial assets into a blind trust, something that pretty much every president before him, such as Obama and Bush did, as a sign of good faith to the American people that they would not let their financial investments in one country/business or another influence their decisions. Wall Street bet on Trump, and now they are getting a return on their investment. What you can expect going forward is the removal of the Dodd-Frank act, which is basically a watered down version of Glass-Steagall, which essentially is the last line of defence that Americans have against Wall Street completely dominating the American financial system/economy. Obama had to be dragged kicking and screaming to sign this Act, and now wall street finally has their man in the white house to have it removed. It was created in response to the 2008 financial crash that wall street created, in order to prevent it happening again...and since its creation, wall street has been complaining about it, and lobbying to have it watered down and removed. Now they can rest easy. All that's left is to see who he picks as secretary of state. If my previous update ends up being accurate, you may as well start preparing for war with Iran.

All I have to say now is good luck Americans. You will need it.

Trump Presidency - End of the World, or the Start of a New One (Update II)? The Verdict is in.
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Most Helpful Guy

  • madhatters4
    well i think this has become the new normal and in a sense those who opposed trump should have some sense of relief that he doesn't seem to be doing any of the things he said he would do during his campaign.

    prosecute "killary" ... not happening
    deporting all illegals... not happening
    clear the swamp... he's jumped right into the swamp
    repeal obamacare... doesn't appear to be happening

    i have a friend who worked on the trump campaign (yep and we remained friends). he said that those on the far right who supported trump are in for a rude awakening and that those who opposed trump should realize that a person who was a moderate democrat for 42 years doesn't suddenly adopt the far right ideology in the past 10 years.
    Is this still revelant?
    • Anonymous

      yeah i figured as much. Im expecting things to really just resemble the Bush era, but on steroids

    • agree. i see more of george w. bush or reagan era politics. which most likely means recession. i'm not confident we will see progress in the next four years

Most Helpful Girl

  • TiffyPuff
    People who got conned aren't going to admit it. In fact, they'll get even more delusional and devoted to Trump as his lies get revealed. This sort of behavior is well documented by people who have studied cults, persuasion, etc.
    Is this still revelant?

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What Girls & Guys Said

411
  • JudgmentDay
    "you may as well start preparing for war with Iran."

    Possibly, as you and I are both aware of what is at stake here.

    Because the whole thing with the sanctions on Iran for them possibly trying to "acquiring nuclear weapons" is largely a smoke-screen.

    In reality, it's always about the money and the oil. Specifically the Petrodollar recycling system.

    If they go to war then what they really want to do is to actually take control of Iran's oil and put it back on the dollar just like they did with Iraq before when Saddam ended Iraq's oil transactions in dollars and switched to Euros instead.

    Because Iran had also stopped selling their oil for only dollars since 2011 and had been trading and selling their oil for only other currencies instead.

    If only the dollar can somehow no longer be a fiat currency that isn't completely debt-based anymore, but it's unlikely to ever change. That 20 Trillion+ debt is still increasing, and it doesn't look like any of it is being paid off any time soon.
  • Red_Arrow
    This is one of his picks that I had not yet heard about, but there it is... Good or bad, it is exactly the way Hillary would likely have gone, and is certainly against his "Drain the Swamp" rhetoric, which is being proven to be lies over and over.

    Great take.
    • dudeman

      the swamp is liberal agenda and waste.

    • Red_Arrow

      @dudeman - the swamp is lobbyists and CEOs that he promised he would get fid of. Looks like a Trump aganda. Or do you want to claim it as a GOB agenda since he decided to joing the GOP a ways back. Kind of...

    • dudeman

      nah the swamp is the libs and the wasteful spending.

  • RedThread
    The sad thing is that I don't even think people knew that much about his policies outside of his rhetoric. The anti-establishment politician is turning out to be anything but.
    • Anonymous

      indeed. i have a great fear of who he'll end up putting in as secretary of state though. John Bolton is on the roster... and the guy is as pro war with Iran as it gets

  • Saoirse_Nua
    First of all I will say I was always anti Trump but even I am surprised how he has flipped flopped on his campaign rhetoric. It is like Reince Priebus and Mike Pence are picking the cabinet plus WTF is Kellyanne Conway doing on Thanksgiving (maybe she hit the wine early) tweeting there will be a huge backlash if MItt Romney is picked for Secretary of State. Oh how us anti Trumpers laughed when it seemed the campaign seemed in disarray but it has suddenly become serious now no longer a laughing matter. It has been 22 days since the election, has he actually said one concrete bit of policy, after 16 months of a campaign and 20 days of being President Elect it is still worringly vague with "TBD" "TBC" plus the very "Secret Plans".
    • Anonymous

      It's a total shit show. He hasn't even taken office yet and he's already fallen back on most of what he said. I mean he's basically George Bush on steroids. I think the assumption that trump would just let pence be president was correct. He's basically doing all the hand picking while trump jumps into Twitter wars

    • Red_Arrow

      Pence has been attending intelligence briefings daily. Those are necessary to get the incoming president and VP up to speed on a ton of things that they will need to know the moment they take over. So what has Trump been doing? IN the three weeks he has been Prez-elect, he has attended 3 (single digit 3, no 1 in front of that) intell briefings. Let us hope Pence is taking over as president when it comes to knowing what is going on.

    • @Red_Arrow After he was elected I did say in the many questions about thoughts for the Trump presidency and I said "I hope he surprises me" - Unfortunately he hasn't surprised me at all - This is very much what I expected - His camp seems to flounder until a character comes in and steadies the ship for a while - The Kellyanne Conway stabilising effect has seem to have gone if anything she is getting more and more fractious, I noticed this in last few weeks before election - There always seems to be a power struggle going on behind the scenes with son in law Jared not far from the middle of it.

    • Show All
  • Other_Tommy_Wiseau
    He won. The end. Get over it. You aren't even American...
    • Anonymous

      it affects us all, so request denied

    • I hate the cocksucker as much as the next guy. With that said, it's not going to be the end of the world. It's not going to be doomsday defcon fittyleven. Realistically, he won't get half the shit he thinks he will done anyway. Does it speak volumes as to how stupid my country is, collectively? Duh. Not just because he won, but the mere fact that both sides decided to nominate 2 people so shitty that not even half of the population voted. With that said, it's been a fucking month already, over 18 goddamn months, prior. We've heard the same shit from everyone and their grandmother for the umteenth time ad nauseam. We get it. You don't like the piece of shit. Great. Your distain for him isn't going to change it so you have no choice but to live with it, especially as a Canadian with literally no say of our government, which was my point about that. And I said the same sentiment from the start with the annoying trump dickfaces who were bitching and moaning pre election. He won. Move on

    • Anonymous

      im not going to stop discussing politics, but i hear your frustration over hearing about this stuff so i won't bother you with invites about it anymore

    • Show All
  • Rissyanne
    Do you think Hillary would do any better? Also... the man hasn't even taken office yet. But it doesn't matter what the man does... liberals are going to find fault.
  • smølf
    In my opinion Trump is a wildcard, we can't really foresee yet if he will be great or a catastrophe. I am however sure, he will be one or the others, he will not just be another president.
  • jacquesvol
    Guys like him made the 2008 bank crisis.

    Good luck.
    • Izumiblu

      I never really thought of Andrew Cuomo and Barney Frank as being like Trump, but ok.

    • jacquesvol

      @Izumiblu His Goldman Sachs connection

    • Izumiblu

      Goldman Sachs didn't bring us a 2008 housing crash. Frank, Cuomo and others of their ilk did by forcing lower underwriting standards thus opening the subprime mortgage business.

  • RegularTK421
    So here's my question, do you honestly think crooked Hillary wouldn't have appointed a wall street insider? Politics is a wwe match and we are the public. It's all part of the same business. Trump himself has close ties to the Clintons, switched political parties numerous times, and donated to the Bill Clinton campaign. Also, most of our CIA directors were bankers or lawyers from wall street, this is nothing new. You are writing this article like it's shocking news. Did you forget about Timothy Geithner, or Lawrence Summers, or Ben Bernanke?
  • Adigelunar
    nice one
  • bruce3
    good post
  • MissSakura
    , good
  • Anonymous
    finally a businessman that knows how to show a profit from our credit card taxes, misused in the past by spoiled country club brats (i. e. politicians)
  • Anonymous
    The U. S. doesn't really have, culturally, a lot of other options. The best and brightest in finance and economics get hoovered up by wall street. So when you look at the top candidates, almost by definition, they all come from GS.

    In Canada it's not so different.
    When I say 'culturally', what I mean is that in some parts of the world, a lot of the best and brightest go to work at their central bank, so you get more people coming out of that environment.

    Carney (our past governor and currently in the U. K.) was ex-GS, and pretty well regarded.

    While some banks definitely deserve some of the blame for 2008, governments deserve a ton as well. On top of that, the rating agencies were (and imho, are) a mess.
    • Anonymous

      Yes, and Carney was also a mess. He's part of the reason why we have an over inflated housing market that is extremely reliant at this point on chinese money. The only thing these people are good at is creating bubble in financial markets, then crashing them once they've milked everything they can. Your candidate for treasury absolutely does not have to be a wall streeter. There have been non wall street candidates for treasury in the past who worked perfectly fine. I mean, does it make any sense to have a group of people regulate themselves? Goldman Sachs was one of the chief architects behind the crash, and they likely will have a role to play in the next one. Seriously... when clinton does it... roof falls down (and it should). Trump does it... well, its okay, he's got experience. crazy..

    • Anonymous

      Please explain how GS caused the crash. As for Carney, I don't give him much credit, but the Canadian banking system went through 2008 far better than most of the world.

      I would agree that 2008 was inflation driven. So you're looking for someone to increase interest rates than? That -will- cause an immediate housing crash, but maybe smaller than the future.

      The reason we actually have a Chinese-money fuelled housing bubble right now, or what appears as one, is not because of interest rates. It's because of exchange rates. With oil prices having dropped, the Canadian dollar has dropped. In Toronto and Vancouver everyone is shaking their heads at staggering increases in real estate, but in US$ or Chinese yuan, housing prices here are basically flat over the last 5 years.

      Underlying all of these is the fact that we have massive demographic impacts with baby boomers around their peak wealth stage in their lifecycle of saving and retirement. Virtually every asset class is floode

    • Anonymous

      carney is just as "highly regarded" as bernanke is because they blew up incredibly ridiculous bubbles, and were able to get out of the position in time before they collapsed. They did what the large financial institutions wanted, and so they are highly regarded in those circles and most of the mainstream media.

      And no i would disagree, interest rates are the primary reason for the bubble. The bubble didn't start with chinese money. The bubble was sustained with chines money. there's a difference. The chinese are running out of the frying pan (china stock market metldown) and into the fire with the Canadian housing bubble

      You can't run an economy on zero percent interest rates in perpetuity. That isn't sound economics. In the U. S. interest rates should have begun rising in 2011 when the economy was rebounding, the U. S. dollar was at all time lows, and the markets weren't already making new all time highs on an inflation adjusted basis.

    • Show All
  • Anonymous
    he's doing the exact same thing Hillary would have done.
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